Question

Strategic cost management issues in different element cost

Answer 1

Answer:

Strategic cost management is the process of reducing total costs while improving the strategic position of a business. For example, the strategy of a manufacturing firm is to be able to offer rapid turnaround of customer orders by maintaining tight control over its bottleneck production operation.

Answer 2

Strategic cost management issues in different element cost

Explanation:

• Due to the increase in competition cost management is becoming an essential need for the company to manage and has become a critical skill for the business to survive.  

• As business is domestic and global the consumers and customers expect timely delivery of quality products at competitive prices. This can happen if the management stays cost-competitive. Cost control is thus needed for product sales and profit.

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• brainly.in/question/13007947 answered by jordantourspackages.